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VAT cut to boost use of safety gloves?

Safety gloves could experience a boom in demand if the proposals of one politician to cut VAT rates on certain types of construction work are taken on board by the UK government.

Scotland's culture secretary Fiona Hyslop urged the leadership to reduce the tax levied on changes made to existing buildings, including repairs, maintenance and refurbishment.

At the moment, the VAT rate on these works stands at 20 per cent, but the minister has called for it to be slashed to five per cent, saying such a move would boost the economy and protect the country's heritage.

She argued restoration is "a sustainable and viable" alternative to demolition, which produces a large amount of waste.

"For every pound spent, you could get twice as much local employment and use around half of the resources," Ms Hyslop stated.

The Confederation of British Industry recently urged the government to invest in infrastructure and the housing market as part of a list of recommendations to boost the UK's economy.
 

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